Ply Gem Holdings shares fell 5.6 percent Thursday after the Cary company reported a larger first-quarter loss than Wall Street analysts expected.
The Cary company reported a net loss of $48.9 million, compared with a net loss of $51.6 million in the first quarter of 2014. Earnings per share was a loss of 72 cents, compared to a loss of 76 cents during the same period last year.
That was much larger loss than the 37 cents per share loss that was the consensus among analysts who cover the company, according to Bloomberg.
Ply Gem's sales jumped 39.6 percent in the first quarter to $376 million. That was above the $354 million in sales forecast by analysts.
Much of the increase in sales in the quarter was the result of the company's acquisition of Simonton Windows last year. Excluding the impact of the Simonton acquisition, sales increased 16 percent.
Ply Gem produces vinyl siding, windows and doors and other products for home exteriors.
Gary Robinette, the company’s CEO, said Ply Gem expects the housing market to experience “some near-term choppiness.”
But he said the company is “well positioned to take advantage of the housing rebound and recovery in residential new construction and remodeling activity.”
Ply Gem shares closed Thursday at $12.82, down 76 cents. The stock is down 8 percent this year.